# Nickel Asia's Nine-Month Income Climbs 19% to ₱6.16 Billion on Ore Prices and Renewables

> Nickel Asia's nine-month attributable income rose 19% to ₱6.16 billion as ore sales and prices climbed and its board approved selling its 10% THPAL stake to Sumitomo.

- Published: 2026-11-13T10:03:24+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-13/nickel-asia-nine-month-income-jumps
- Source: [Inquirer](https://business.inquirer.net/620767/nickel-asias-9-month-income-jumps-19)

## Key takeaways

- Nickel Asia's attributable net income rose 19 percent to ₱6.16 billion in the nine months to end-September.
- Revenue climbed 39 percent to ₱31.64 billion as mines sold 15.94 million wet metric tons of nickel ore at an average of $29.78 per WMT.
- The board approved selling Nickel Asia's 10-percent stake in Taganito HPAL Nickel Corp. to Sumitomo Metal Mining, subject to definitive agreements and closing conditions.

[Nickel Asia](https://akta.pro/company-profiles/003ixo3/nickel-asia-corporation) Corp. reported a 19-percent rise in nine-month attributable net income to ₱6.16 billion from ₱5.19 billion a year earlier, the [Inquirer](https://business.inquirer.net/620767/nickel-asias-9-month-income-jumps-19) reported on November 13, 2026. Revenue for the period ended September climbed 39 percent to ₱31.64 billion.

## Nickel Asia's Ore Sales and THPAL Divestment

Nickel Asia is a Philippine-listed natural resource developer that operates seven nickel mines, exporting saprolite ore to Japan and China and supplying limonite to domestic high-pressure acid leach processors, while expanding into renewable energy through its subsidiary Emerging Power Inc.

The company's mines sold 15.94 million wet metric tons of nickel ore, up 15 percent, at an average of $29.78 per WMT, up 12 percent. It exported 10.14 million wet metric tons of saprolite and limonite ore, up 21.9 percent, at an average of $39.58 per WMT, up 5.5 percent. Net foreign exchange gains jumped to ₱506.75 million from ₱39.51 million as the peso weakened 8 percent to ₱61.34 per dollar, and EBITDA rose 28 percent to ₱14.68 billion.

Earnings absorbed a one-time ₱1.99-billion impairment from divesting the stake in Taganito HPAL Nickel Corp., which runs a high-pressure acid leach plant in Surigao del Norte. "Excluding the one-time impairment, attributable net income for the reporting period would have totaled P8.15 billion," the firm said in a disclosure on Friday.

The board approved selling Nickel Asia's 10-percent equity interest in THPAL to Sumitomo Metal Mining Co. Ltd., subject to finalizing definitive agreements, applicable closing conditions and regulatory requirements. Sumitomo Metal Mining forecast a 34,000-metric-ton global nickel surplus in 2027, narrowing from 38,000 tons this year, with Indonesia's nickel pig iron output expected to rebound 11.9 percent to 1.88 million tons, [Carboncredits](https://akta.pro/news-signals) reported on October 9, 2026.

## Nickel Asia's Renewable Energy and Kazakhstan Contribution

NAC Energy Inc., formerly Emerging Power Inc., doubled EBITDA to ₱875 million as generation surged 81 percent to 310,286 megawatt-hours. "On the renewable energy front, NAC Energy is expanding its footprint with the recent energization of Phase 2 of our Leyte solar project," president and CEO Martin Antonio Zamora said. Zamora said the company's initial offshore investment in Kazakhstan contributed around ₱313 million in incremental income.

## Nickel Asia's Earlier Deals and Results

Nickel Asia closed a $30-million deal in September 2026 to buy a 20-percent stake in East Copper Production LLP, which holds rights to the Karchiga copper mine in Kazakhstan, the Inquirer reported; the company paid $10 million initially and settled the remaining $20 million after conditions were met. In August 2026, Nickel Asia reported half-year revenues of 15.39 billion pesos from the sale of saprolite and limonite ore, AInvest reported. The company held its 2026 second-quarter earnings call presentation on August 7, 2026, Seeking Alpha reported.

## What Comes Next for the THPAL Sale

The THPAL sale to Sumitomo Metal Mining remains subject to definitive agreements, closing conditions and regulatory requirements, the company said.

## Companies in this story

- [Nickel Asia Corporation company profile](https://akta.pro/company-profiles/003ixo3/nickel-asia-corporation) · website: http://www.nickelasia.com

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